Tag Archives: Forex News
Oil Prices Could Go as Low as $35!
Posted on15. Jan, 2009 by admin.
Oil fell again during yesterday’s trading session due to rising inventories and flagging demand in the top energy consumer, the United States. U.S. distillate demand fell to the lowest level in five years as the economic recession battered industrial consumption, according to the Energy Information Administration.
Traders should be eyeing news of key U.S. economic indicators, [...]
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Oil Prices Resume Sliding despite U.S Crude Inventories Report
Posted on08. Jan, 2009 by admin.
Oil prices slid 12% during yesterday’s trading session, the largest percentage drop in 7 years. This drop came after a U.S. government report showed Crude Oil inventories rose more than expected in the world’s top energy consumer.
Two days ago, Crude Oil reached a five-week high because of the conflict between Israel and Hamas, Russia’s gas [...]
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Crude Oil Prices lack the Support to Push Beyond $50 a Barrel
Posted on07. Jan, 2009 by admin.
Crude Oil prices have changed little after falling yesterday. Analysts forecast that gloomy economic data from the United States would make it tough for Crude prices to make a sustained push through $50 a barrel. Data released Tuesday showed that pending sales of U.S. homes dropped in November to their lowest level in at least [...]
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Gaza and Russian Conflicts Elevate Crude Prices
Posted on06. Jan, 2009 by admin.
Crude Oil climbed for a fourth consecutive trading day on concerns that the conflict in Gaza may not be short lived while Russia and Ukraine argue over gas prices. Crude Oil climbed as high as $49.23, only to close the day at $47.90.
The nearly 3 percent gains were seen as fighting between Israel and Hamas [...]
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Gaza Conflict May Carry Less Impact on Oil Prices than Previously Thought
Posted on05. Jan, 2009 by admin.
Many analysts glimpse at the map of the Middle East and, rightfully, believe that the conflict in Gaza should carry little impact on the price of Crude Oil. This is because Israel is nowhere near the oil reserves or shipping lanes in the region. Yet one thing is for certain, since the start of hostilities [...]
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Crude Oil Price Slide to Below $42 on the Start of New Years Trading
Posted on02. Jan, 2009 by admin.
The price of Crude Oil continues to be volatile as it dropped over 130 pips from near $43 to $41.70 in the opening hours of today’s trading. This comes about as analysts’ expected Oil prices to hit $35 Dollars a barrel in the coming weeks. However, the black gold continues to defy people’s expectations, as [...]
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Crude Oil Trades near $39 on Grim Economic Outlook
Posted on31. Dec, 2008 by admin.
Oil prices fell $1.00 on Tuesday as fear about demand in the global economy outweighed expectations of further Saudi supply cuts in February and tension in the Middle East due to the Israeli-Hamas conflict. The market took in data showing a sharp fall in weekly U.S. retail gasoline demand, and record low consumer confidence in [...]
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Oil Prices Resume Sliding despite OPEC's Production Cut
Posted on19. Dec, 2008 by admin.
Oil prices have been on the fritz lately; inexplicably dropping in value after the Organization of Petroleum Exporting Countries (OPEC) announced its supply cut and then quickly rebounding during early trading hours the next day. More recently, the price of Crude Oil has resumed falling back towards $40 a barrel, dipping as low as $41.54 [...]
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OPEC's Slash in Output Sparks Oil Rally
Posted on18. Dec, 2008 by admin.
A massive production cut by OPEC help boost the price of Crude Oil yesterday. This was in reaction to the cartel agreeing to reduce Crude supplies by 2.2 million barrels per day. This was the largest cut announced in the cartel’s history. OPEC’s large output cut led to a 450 pip rise in Crude prices [...]
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American Economy Takes Center-Stage
Posted on03. Oct, 2008 by admin.
Economic News
USD
All eyes look to the U.S. House of Representatives as the $700 billion bailout plan, passed in the Senate yesterday, is put forward for a second round of voting. This bill was killed the first time it reached the House since congressmen were not yet in agreement over the various stipulations included in the [...]
